The National Association of Insurance Commissioners (NAIC) ranked the top 25 annuities providers by market share of direct premiums written for 2015.
Direct premiums written among the top 25 providers totaled $264.1 billion, compared with $260.6 billion in 2014. The top 10 annuities providers accounted for 54.77 percent of 2015 direct premiums written.
The top four annuities carriers remained steady in the 2015 ranking compared with 2014, but there was plenty of movement among the carriers ranked six through 10 on the list. The top four carriers had a market share of 28.75 percent, down slightly from market share of 30.1 percent among the top four during 2014.
Jackson National Group led the ranking again in 2015 with $24.6 billion in direct premiums written, representing a market share of 9.32 percent. The company topped the 2014 list as well, with a market share of 9.45 percent.
Continue reading to find out which companies increased their market share, which fell in the rankings and which company was new to the top 10 in 2015.
No. 10: AXA Insurance Group
2014 Ranking: 12
Direct Premiums Written, 2015: $10.1 billion
Direct Premiums Written, 2014: $9.9 billion
2015 Market Share: 3.83 percent
2014 Market Share: 3.79 percent
2015 Cumulative Market Share: 54.77 percent
No. 9: Allianz Insurance Group
2014 Ranking: 5
Direct Premiums Written, 2015: $10.8 billion
Direct Premiums Written, 2014: $14.9 billion
2015 Market Share: 4.08 percent
2014 Market Share: 5.73 percent
2015 Cumulative Market Share: 50.94 percent
No. 8: Metropolitan Group (parent company of MetLife)
2014 Ranking: 10
Direct Premiums Written, 2015: $11.1 billion
Direct Premiums Written, 2014: $10.5 billion
2015 Market Share: 4.19 percent
2014 Market Share: 4.02 percent
2015 Cumulative Market Share: 46.86 percent
No. 7: New York Life Group
2014 Ranking: 9
Direct Premiums Written, 2015: $11.3 billion
Direct Premiums Written, 2014: $10.8 billion
2015 Market Share: 4.28 percent
2014 Market Share: 4.13 percent
2015 Cumulative Market Share: 42.68 percent
No. 6: TIAA Family Group
2014 Ranking: 8
Direct Premiums Written, 2015: $11.9 billion
Direct Premiums Written, 2014: $11.1 billion
2015 Market Share: 4.51 percent
2014 Market Share: 4.28 percent
2015 Cumulative Market Share: 38.39 percent
No. 5: Voya Financial Group (formerly ING America Insurance Holdings)
